 Solution

ID: past-exam-of-the-probability-statistics-and-options-i-course-of-the-university-of-oxford/2011/m/1/d/ii/solution

The one-minute increment has Poisson distribution with parameter two, independently of where that interval occurs. Hence

P (N_{11 : 01} - N_{11 : 00} = 0) = e^{- 2} \approx 0.1353.

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